Mizuho Bank speeds up ISO compliance, eases payment with Boomi

With the online portal, firms can input payment instructions using both legacy and ISO 20022 formats.

Mizuho Bank deployed its Boomi Enterprise Platform to accelerate its ISO 20022 compliance and streamline payments infrastructure across Asia.

Boomi replaced a file conversion tool across its Asia Pacific branches with a single, unified web-based portal, from which firms can now upload or manually enter payment instructions using both legacy and ISO 20022 formats.

Boomi’s low-code platform manages the conversion, validation, and secure delivery of each instruction, simplifying onboarding and minimising operational overhead, Mizuho Bank said.  

The enterprise platform comes as the financial services industry transitions from SWIFT MT messaging to ISO 20022, it added.

With the new platform, Mizuho said it reduced its client onboarding time from months to weeks, whilst also supporting more efficient client acquisition and reducing cost-to-serve.

Already live in key markets across Asia Pacific, the platform is now being rolled out across the bank’s APAC branches, it added.